Someone with a lot of money to spend has taken a bearish stance on Analog Devices ADI.
And retail traders should know.
We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with ADI, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 18 options trades for Analog Devices.
This isn't normal.
The overall sentiment of these big-money traders is split between 22% bullish and 77%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $32,700, and 17, calls, for a total amount of $866,694..
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $150.0 to $210.0 for Analog Devices over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Analog Devices options trades today is 450.2 with a total volume of 8,099.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Analog Devices's big money trades within a strike price range of $150.0 to $210.0 over the last 30 days.
Analog Devices Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ADI | CALL | TRADE | BULLISH | 09/01/23 | $175.00 | $85.2K | 222 | 240 |
| ADI | CALL | TRADE | BULLISH | 09/01/23 | $175.00 | $85.2K | 222 | 120 |
| ADI | CALL | SWEEP | BEARISH | 03/15/24 | $175.00 | $74.3K | 43 | 37 |
| ADI | CALL | TRADE | BULLISH | 09/01/23 | $175.00 | $56.8K | 222 | 320 |
| ADI | CALL | TRADE | NEUTRAL | 09/01/23 | $175.00 | $56.0K | 222 | 880 |
Where Is Analog Devices Standing Right Now?
- With a volume of 1,492,347, the price of ADI is up 0.26% at $182.04.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 82 days.
What The Experts Say On Analog Devices:
- Morgan Stanley has decided to maintain their Equal-Weight rating on Analog Devices, which currently sits at a price target of $185.
- UBS has decided to maintain their Buy rating on Analog Devices, which currently sits at a price target of $210.
- Susquehanna has decided to maintain their Positive rating on Analog Devices, which currently sits at a price target of $215.
- Raymond James has decided to maintain their Outperform rating on Analog Devices, which currently sits at a price target of $200.
- Goldman Sachs has decided to maintain their Buy rating on Analog Devices, which currently sits at a price target of $188.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Analog Devices, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
